1 / 16 · 2020. 6. 3. · 1 / 16 final terms dated 9 march 2020 bnp paribas issuance b.v....

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FINAL TERMS DATED 9 MARCH 2020

BNP Paribas Issuance B.V.(incorporated in The Netherlands)

(as Issuer)

Legal entity identifier (LEI): 7245009UXRIGIRYOBR48

BNP Paribas(incorporated in France)

(as Guarantor)

Legal entity identifier (LEI): R0MUWSFPU8MPRO8K5P83

(Warrant and Certificate Programme)

EUR "Open End Turbo BEST" Certificates relating to an Index

BNP Paribas Arbitrage S.N.C.(as Manager)

Any person making or intending to make an offer of the Securities may only do so :

(i) in those Non-exempt Offer Jurisdictions mentioned in Paragraph 37 of Part A below, provided such person is a Manager or an Authorised Offeror (as such term is defined in the Base Prospectus) and that the offer is made during the Offer Period specified in that paragraph and that any conditions relevant to the use of the Base Prospectus are complied with; or

(ii) otherwise in circumstances in which no obligation arises for the Issuer or any Manager to publish a prospectus pursuant to Article 3 of the Prospectus Directive or to supplement a prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in relation to such offer.

None of the Issuer, the Guarantor or any Manager has authorised, nor do they authorise, the making of any offer of Securities in any other circumstances.

PART A - CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 3 July 2019, each Supplement to the Base Prospectus published and approved on or before the date of these Final Terms (copies of which are available as described below) and any other Supplement to the Base Prospectus which may have been published and approved before the issue of any additional amount of Securities (the "Supplements") (provided that to the extent any such Supplement (i) is published and approved after the date of these Final Terms and (ii) provide for any change to the Conditions of the Securities such changes shall have no effect with respect to the Conditions of the Securities to which these Final Terms relate) which together constitute a base prospectus for the purposes of Directive 2003/71/EC (as amended and superseded, the "Prospectus Directive") (the "Base Prospectus"). This document constitutes the Final Terms of the Securities described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus.Full information on BNP Paribas Issuance B.V. (the "Issuer"), BNP Paribas (the "Guarantor") and the offer of the Securities is only available on the basis of the combination of these Final Terms and the Base Prospectus. A summary of the Securities (which comprises the Summary in the Base Prospectus as amended to reflect the provisions of these Final Terms) is annexed to these Final Terms. The Base Prospectus, any Supplement(s) to the Base Prospectus and these Final Terms are available for viewing, respectively, on the following websites: www.produitsdebourse.bnpparibas.fr for public offering in France and www.bnpparibasmarkets.be for public offering in Belgium and copies may be obtained free of charge at the specified offices of the Security Agents.

References herein to numbered Conditions are to the terms and conditions of the relevant series of Securities and words and expressions defined in such terms and conditions shall bear the same meaning in these Final Terms in so far as they relate to such series of Securities, save as where otherwise expressly provided.

These Final Terms relate to the series of Securities as set out in "Specific Provisions for each Series" below. References herein to "Securities" shall be deemed to be references to the relevant Securities that are the subject of these Final Terms and references to "Security" shall be construed accordingly.

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SPECIFIC PROVISIONS FOR EACH SERIES

Series Number / ISIN Code

No. of Securiti

es issued

No. of Securiti

es

Mnemonic Code

Issue Price per Security

Call / Put Exercise Price

Capitalised Exercise

Price Rounding

Rule

Security Threshold Rounding

Rule

Security Percentag

e

Dividend Percentag

e

Interbank Rate 1 Screen Page

Financing Rate

Percentage

Delivery or expiry month

Futures or Options

Exchange

Redemption Date

Parity

FRBNPP01FUD0

60,000 60,000 014KB EUR 0.54 Put EUR 542.6226Downwards 4 digits

Downwards 4 digits 0% 100%

EURIBOR1MD= -3.50% -

Euronext Derivatives Open End

10

FRBNPP01FUE8





10

FRBNPP01FUF5





10

FRBNPP01FUG3

150,000 150,000 017KBEUR 0.39 Put EUR 5,240.3803

Downwards 4 digits



Euronext Derivatives (Paris)

Open End100

FRBNPP01FUH1

150,000 150,000 018KBEUR 0.52 Put EUR 5,253.3837

Downwards 4 digits




Open End100

FRBNPP01FUI9

150,000 150,000 019KBEUR 0.65 Put EUR 5,266.3872

Downwards 4 digits




Open End100

FRBNPP01FUJ7

150,000 150,000 020KBEUR 0.78 Put EUR 5,279.3906

Downwards 4 digits




Open End100

FRBNPP01FUK5

150,000 150,000 021KBEUR 0.91 Put EUR 5,292.3940

Downwards 4 digits




Open End100

FRBNPP01FUL3

150,000 150,000 022KBEUR 1.04 Put EUR 5,305.3974

Downwards 4 digits




Open End100

FRBNPP01FUM1

150,000 150,000 023KBEUR 1.17 Put EUR 5,318.4009

Downwards 4 digits




Open End100

FRBNPP01FUN9

150,000 150,000 024KBEUR 1.30 Put EUR 5,331.4043

Downwards 4 digits




Open End100

FRBNPP01FUO7

150,000 150,000 025KBEUR 1.43 Put EUR 5,344.4077

Downwards 4 digits




Open End100

FRBNPP01 150,000 150,000 026KB EUR 1.56 Put EUR Downwards Downwards 0% 100% EURIBOR1 -3.50% - Euronext Open End 100

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No. of Securiti

es issued

No. of Securiti

es

Mnemonic Code




Price Rounding

Rule


Rule

Security Percentag

e

Dividend Percentag

e


Financing Rate

Percentage


Futures or Options

Exchange

Redemption Date

Parity

FUP4 5,357.4111 4 digits 4 digits MD= Derivatives (Paris)

FRBNPP01FUQ2

150,000 150,000 027KBEUR 1.69 Put EUR 5,370.4146

Downwards 4 digits




Open End100

FRBNPP01FUR0

150,000 150,000 028KBEUR 1.82 Put EUR 5,383.4180

Downwards 4 digits




Open End100

FRBNPP01FUS8

150,000 150,000 029KBEUR 1.95 Put EUR 5,396.4214

Downwards 4 digits




Open End100

FRBNPP01FUT6

150,000 150,000 030KBEUR 2.08 Put EUR 5,409.4248

Downwards 4 digits




Open End100

FRBNPP01FUU4

150,000 150,000 031KBEUR 2.21 Put EUR 5,422.4283

Downwards 4 digits




Open End100

FRBNPP01FUV2

150,000 150,000 032KBEUR 2.34 Put EUR 5,435.4317

Downwards 4 digits




Open End100

FRBNPP01FUW0

150,000 150,000 033KBEUR 2.47 Put EUR 5,448.4351

Downwards 4 digits




Open End100

FRBNPP01FUX8

100,000 100,000 034KB EUR 23.25 Call

EUR 9,301.7200

Upwards 4 digits

Upwards 4 digits 0% N/A

EURIBOR1MD= +3.50% - Eurex Open End

100

FRBNPP01FUY6

100,000 100,000 035KB EUR 10.46 Call

EUR 10,580.7065

Upwards 4 digits



100

FRBNPP01FUZ3

100,000 100,000 036KBEUR 1.16 Put

EUR 11,743.4215

Downwards 4 digits

Downwards 4 digits 0% N/A

EURIBOR1MD= -3.50% - Eurex Open End

100

FRBNPP01FV09

100,000 100,000 037KBEUR 2.33 Put

EUR 11,859.6930

Downwards 4 digits



100

FRBNPP01FV17

100,000 100,000 038KBEUR 3.49 Put

EUR 11,975.9645

Downwards 4 digits



100

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No. of Securiti

es issued

No. of Securiti

es

Mnemonic Code




Price Rounding

Rule


Rule

Security Percentag

e

Dividend Percentag

e


Financing Rate

Percentage


Futures or Options

Exchange

Redemption Date

Parity

FRBNPP01FV25

75,000 75,000 039KB EUR 0.33 Call EUR 3,237.3297Upwards 4 digits

Upwards 4 digits 0% 85%


100

FRBNPP01FV33

75,000 75,000 040KB EUR 0.33 Put EUR 3,302.7303Downwards 4 digits



100

FRBNPP01FV41




100

FRBNPP01FV58




100

FRBNPP01FV66

100,000 100,000 043KB

EUR 0.84 Put EUR 9,289.7201Downwards 4 digits



Mercado Oficial de Futuros y Opciones Financieros (MEFF)

Open End

1,000

FRBNPP01FV74

100,000 100,000 044KB

EUR 0.77 Put USD 8,758.3746Downwards 4 digits


USD1MFSR= -3.50% -

Chicago Mercantile Exchange (CME)

Open End

100

FRBNPP01FV82

100,000 100,000 045KB



USD1MFSR= -3.50% -


Open End

100

FRBNPP01FV90




10


Index Index Currency

ISIN of Index Reuters Code of Index / Reuters

Screen Page

Index Sponsor Index Sponsor Website Exchange Exchange Website Conversion Rate

FRBNPP01FUD0 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam

www.euronext.com 1

FRBNPP01FUE8 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam

www.euronext.com 1

FRBNPP01FUF5 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam

www.euronext.com 1

FRBNPP01FUG3 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

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Screen Page


FRBNPP01FUH1 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUI9 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUJ7 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUK5 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUL3 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUM1 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUN9 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUO7 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUP4 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUQ2 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUR0 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUS8 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUT6 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUU4 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUV2 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUW0 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUX8 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Deutsche Börse AG (XETRA)

www.deutsche-boerse.com

1

FRBNPP01FUY6 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Deutsche Börse AG (XETRA)


1

FRBNPP01FUZ3 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Deutsche Börse AG (XETRA)


1

FRBNPP01FV09 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Deutsche Börse AG (XETRA)


1

FRBNPP01FV17 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Deutsche Börse AG (XETRA)


1

FRBNPP01FV25 EURO STOXX 50® EUR EU0009658145 .STOXX50E Stoxx Limited www.stoxx.com As set out in Annex 2 for a Composite Index (Multi-Exchange Index)

- 1

FRBNPP01FV33 EURO STOXX 50® EUR EU0009658145 .STOXX50E Stoxx Limited www.stoxx.com As set out in Annex 2 for a Composite Index

- 1

6 / 16




Screen Page


(Multi-Exchange Index)


- 1


- 1

FRBNPP01FV66 IBEX35® EUR ES0SI0000005 .IBEX Sociedad de Bolsas SA

www.bolsamadrid.es SIBE - Mercado Continuo Español

www.bolsamadrid.es 1

FRBNPP01FV74 Nasdaq-100 ® USD US6311011026 .NDX NASDAQ Group Inc https://indexes.nasdaqomx.com

NASDAQ www.nasdaq.com EUR / USD

FRBNPP01FV82 Nasdaq-100 ® USD US6311011026 .NDX NASDAQ Group Inc https://indexes.nasdaqomx.com

NASDAQ www.nasdaq.com EUR / USD

FRBNPP01FV90 EURO STOXX® Banks EUR EU0009658426 .SX7E Stoxx Limited www.stoxx.com As set out in Annex 2 for a Composite Index (Multi-Exchange Index)

- 1

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GENERAL PROVISIONS

The following terms apply to each series of Securities:

1. Issuer: BNP Paribas Issuance B.V.

2. Guarantor: BNP Paribas

3. Trade Date: 6 March 2020.

4. Issue Date: 9 March 2020.

5. Consolidation: Not applicable.

6. Type of Securities: (a) Certificates.

(b) The Securities are Index Securities.

The provisions of Annex 2 (Additional Terms and Conditions for Index Securities) and Annex 9 (Additional Terms and Conditions for OET Certificates) shall apply.

Unwind Costs: Not applicable.

Waiver of Set-Off: Not applicable.

Essential Trigger: Applicable.

7. Form of Securities: Dematerialised bearer form (au porteur).

8. Business Day Centre(s): The applicable Business Day Centre for the purposes of the definition of "Business Day" in Condition 1 is TARGET2.

9. Settlement: Settlement will be by way of cash payment (Cash Settled Securities).

Issuer's Option to Substitute: Not applicable.

10. Rounding Convention for cash Settlement Amount: Not applicable.

11. Variation of Settlement:

Issuer's option to vary settlement: The Issuer does not have the option to vary settlement in respect of the Securities.

12. Final Payout:

ETS Payout: Leverage Products:

ETS Final Payout 2210.Call Securities or Put Securities (see the Specific Provisions for each Series above).

Aggregation: Not applicable.

13. Relevant Asset(s): Not applicable.

14. Entitlement: Not applicable.

15. Conversion Rate: The Conversion Rate on the Valuation Date or an Optional Redemption Valuation Date equals one if the relevant Index Currency is the same as the Settlement Currency or otherwise the rate determined by the Calculation Agent by reference to www.bloomberg.com/markets/currencies/fx-fixings (or any successor website or page thereto, as determined by the Calculation Agent) at approximately 2.00 p.m. Frankfurt time between the relevant Index Currency and the Settlement Currency, provided that, if such source is not available, such rate of exchange may be determined by the Calculation Agent by reference to such sources as it considers to be

8 / 16

appropriate acting in good faith and in a commercially reasonable manner, having taken into account relevant market practice.

16. Settlement Currency: The settlement currency for the payment of the Cash Settlement Amount is Euro ("EUR").

17. Syndication: The Securities will be distributed on a non-syndicated basis.

18. Minimum Trading Size: Not applicable.

19. Principal Security Agent: BNP Paribas Securities Services.

20. Calculation Agent: BNP Paribas Arbitrage S.N.C.1 rue Laffitte 75009 Paris, France.

21. Governing law: French law.

22. Masse provisions (Condition 9.4): Not applicable.

PRODUCT SPECIFIC PROVISIONS

23. Index Securities: Applicable.

(a) Index/Basket of Indices/Index Sponsor(s): See the Specific Provisions for each Series above.

(b) Index Currency: See the Specific Provisions for each Series above.

(c) Exchange(s): See the Specific Provisions for each Series above.

(d) Related Exchange(s): All Exchanges.

(e) Exchange Business Day: Single Index Basis.

(f) Scheduled Trading Day: Single Index Basis.

(g) Weighting: Not applicable.

(h) Settlement Price: Official closing level.

(i) Specified Maximum Days of Disruption: Twenty (20) Scheduled Trading Days.

(j) Valuation Time: The Scheduled Closing Time as defined in Condition1.

(k) Redemption on Occurrence of an Index Adjustments Event:

Market Value: Applicable.

If the Calculation Agent determines an Index Adjustment Event constitutes a force majeure, Index Condition 3.2(d)(vi) applies.

(l) Index Correction Period: As per Conditions.

(m) Additional provisions applicable to Custom Indices:

Not applicable.

(n) Additional provisions applicable to Futures Price Valuation:

Not applicable.

24. Share Securities/ETI Share Securities: Not applicable.

25. ETI Securities: Not applicable.

26. Debt Securities: Not applicable.

27. Commodity Securities: Not applicable.

28. Currency Securities: Not applicable.

29. Futures Securities: Not applicable.

9 / 16

30. OET Certificates: Applicable.

(a) Final Price: As per OET Certificate Conditions.

(b) Valuation Date: As per OET Certificate Conditions.

(c) Exercise Price: See the Specific Provisions for each Series above.

(d) Capitalised Exercise Price:

Capitalised Exercise Price applicable, in accordance with the OET Certificate Conditions.

OET Website(s): www.produitsdebourse.bnpparibas.fr www.bnpparibasmarkets.be

Local Business Day Centre(s): Paris.

(e) Capitalised Exercise Price Rounding Rule: See the Specific Provisions for each Series above.

(f) Dividend Percentage: See the Specific Provisions for each Series above, subject to adjustment by the Calculation Agent in accordance with the OET Certificate Conditions.

(g) Financing Rate:

(i) Interbank Rate 1 Screen Page: See the Specific Provisions for each Series above.

(ii) Interbank Rate 1 Specified Time: As per OET Certificate Conditions.

(iii) Interbank Rate 2 Screen Page: Not applicable (i.e. Interbank Rate 2 means Zero (0)).

(iv) Interbank Rate 2 Specified Time: Not applicable.

(v) Financing Rate Percentage: See the Specific Provisions for each Series above.

(vi) Financing Rate Range:

In respect of Call Securities: 0% / +10%.In respect of Put Securities: -10% / 0%.

(h) Automatic Early Redemption: Applicable.

(i) Automatic Early Redemption Payout: Automatic Early Redemption Payout 2210/2.

(ii) Automatic Early Redemption Date: Not applicable.

(iii) Observation Price: Official level.

(iv) Observation Price Source: Index Sponsor.

(v) Observation Price Time(s): At any time during the opening hours of the Exchange.

(vi) Security Threshold: As per OET Certificate Conditions.

The Security Threshold in respect of a Relevant Business Day will be published as soon as practicable after its determination on the OET Website(s), as set out in § 30(d).

(vii) Security Threshold Rounding Rule: See the Specific Provisions for each Series above.

(viii) Security Percentage: See the Specific Provisions for each Series above.

(ix) Minimum Security Percentage: Not applicable.

10 / 16

(x) Maximum Security Percentage: Not applicable.

(xi) Reset Date: Option 2 is applicable.

31. Illegality (Condition 7.1) and Force Majeure (Condition 7.2):

Illegality: Market Value.

Force Majeure: redemption in accordance with Condition 7.2(a).

32. Additional Disruption Events and Optional Additional Disruption Events:

(a) Additional Disruption Events: Not applicable.

(b) The following Optional Additional Disruption Events apply to the Securities: Significant Alteration Event, Administrator/Benchmark Event.

(c) Redemption:

Market Value: Applicable.

33. Knock-in Event: Not applicable.

34. Knock-out Event: Not applicable.

PROVISIONS RELATING TO WARRANTS

35. Provisions relating to Warrants: Not applicable.

PROVISIONS RELATING TO CERTIFICATES

36. Provisions relating to Certificates: Applicable.

(a) Notional Amount of each Certificate: Not applicable.

(b) Instalment Certificates: The Certificates are not Instalment Certificates.

(c) Issuer Call Option: Applicable. The Issuer may redeem the OET Certificates in accordance with the OET Certificate Conditions. See item 30 above.

(d) Holder Put Option: Applicable provided that (i) no Automatic Early Redemption Event has occurred and (ii) the Issuer has not already designated the Valuation Date in accordance with the OET Certificate Conditions.

(i) Optional Redemption Date(s):

The day falling ten (10) Business Days immediately following the relevant Optional Redemption Valuation Date.

(ii) Optional Redemption Valuation Date:

The last Relevant Business Day in March in each year commencing in March of the calendar year after the Issue Date, subject to adjustment in the event that such day is a Disrupted Day as provided in the definition of Valuation Date in Condition 25.

(iii) Optional Redemption Amount(s): Put Payout 2210.

(iv) Minimum Notice Period:

Not less than 30 days prior to the next occurring Optional Redemption Valuation Date.

(v) Maximum Notice Period: Not applicable.

(e) Automatic Early Redemption:

Not applicable.

(f) Strike Date: Not applicable.

(g) Strike Price: Not applicable.

(h) Redemption Valuation Date: Not applicable.

(i) Averaging: Averaging does not apply to the Securities.

(j) Observation Dates: Not applicable.

11 / 16

(k) Observation Period: Not applicable.

(l) Settlement Business Day: Not applicable.

(m) Cut-off Date: Not applicable.

(n) Identification information of Holders as provided by Condition 26:

Not applicable.

DISTRIBUTION

37. Non exempt Offer: Applicable.

(i) Non-exempt Offer Jurisdictions: France and Belgium.

(ii) Offer Period: From (and including) the Issue Date until (and including) the date on which the Securities are delisted.

(iii) Financial intermediaries granted specific consent to use the Base Prospectus in accordance with the Conditions in it:

The Manager and BNP Paribas.

(iv) General Consent: Not applicable.

(v) Other Authorised Offeror Terms: Not applicable.

38. Additional U.S. Federal income tax considerations:

The Securities are not Specified Securities for the purpose of Section 871(m) of the U.S. Internal Revenue Code of 1986.

39. Prohibition of Sales to EEA Retail Investors:

(a) Selling Restriction: Not applicable.

(b) Legend: Not applicable.

Responsibility

The Issuer accepts responsibility for the information contained in these Final Terms. To the best of the knowledge of the Issuer (who has taken all reasonable care to ensure that such is the case), the information contained herein is in accordance with the facts and does not omit anything likely to affect the import of such information.

Signed on behalf of BNP Paribas Issuance B.V.As Issuer:

By: ......................................... Duly authorised

12 / 16

PART B - OTHER INFORMATION

1. Listing and Admission to trading - De listing

Application has been made to list the Securities on Euronext Paris and to admit the Securities described herein for trading on Euronext Paris, with effect from the Issue Date.

The de-listing of the Securities on the exchange specified above shall occur on at the opening time on the Valuation Date, subject to any change to such date by such exchange or any competent authorities, for which the Issuer and the Guarantor shall under no circumstances be liable.

2. Ratings

The Securities have not been rated.

3. Interests of Natural and Legal Persons Involved in the Issue

Save as discussed in the "Potential Conflicts of Interest" paragraph in the "Risks" section in the Base Prospectus, so far as the Issuer is aware, no person involved in the issue of the Securities has an interest material to the issue.

4. Performance of Underlying/Formula/Other Variable and Other Information concerning the Underlying Reference

See Base Prospectus for an explanation of effect on value of Investment and associated risks in investing in Securities.

Information on each Index shall be available on the relevant Index Sponsor website as set out in "Specific Provisions for each Series" in Part A.

Past and further performances of each Index are available on the relevant Index Sponsor website as set out in "Specific Provisions for each Series" in Part A and the volatility of each Index as well as the Conversion Rate may be obtained from the Calculation Agent at the phone number: 0 800 235 000.

The Issuer does not intend to provide post-issuance information.

Index Disclaimer

Neither the Issuer nor the Guarantor shall have any liability for any act or failure to act by an Index Sponsor in connection with the calculation, adjustment or maintenance of an Index. Except as disclosed prior to the Issue Date, neither the Issuer, the Guarantor nor their affiliates has any affiliation with or control over an Index or Index Sponsor or any control over the computation, composition or dissemination of an Index. Although the Calculation Agent will obtain information concerning an Index from publicly available sources it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by the Issuer, the Guarantor, their affiliates or the Calculation Agent as to the accuracy, completeness and timeliness of information concerning an Index.

AEX® Index

Euronext N.V. or its subsidiaries holds all (intellectual) proprietary rights with respect to the Index. Euronext N.V. or its subsidiaries do not sponsor, endorse or have any other involvement in the issue and offering of the product. Euronext N.V. and its subsidiaries disclaim any liability for any inaccuracy in the data on which the Index is based, for any mistakes, errors, or omissions in the calculation and/or dissemination of the Index, or for the manner in which it is applied in connection with the issue and offering thereof.AEX® and AEX-index® are registered trademarks of Euronext N.V. or its subsidiaries.

CAC40® Index

Euronext N.V. or its subsidiaries holds all (intellectual) proprietary rights with respect to the Index. Euronext N.V. or its subsidiaries do not sponsor, endorse or have any other involvement in the issue and offering of the product. Euronext N.V. and its subsidiaries disclaim any liability for any inaccuracy in the data on which the Index is based, for any mistakes, errors,

13 / 16

or omissions in the calculation and/or dissemination of the Index, or for the manner in which it is applied in connection with the issue and offering thereof.CAC40® and CAC40-index® are registered trademarks of Euronext N.V. or its subsidiaries.

DAX® Index

This financial instrument is neither sponsored nor promoted, distributed or in any other manner supported by Deutsche Börse AG (the "Licensor"). The Licensor does not give any explicit or implicit warranty or representation, neither regarding the results deriving from the use of the Index and/or the Index Trademark nor regarding the Index value at a certain point in time or on a certain date nor in any other respect. The Index is calculated and published by the Licensor. Nevertheless, as far as admissible under statutory law the Licensor will not be liable vis-à-vis third parties for potential errors in the Index. Moreover, there is no obligation for the Licensor vis-à-vis third parties, including investors, to point out potential errors in the Index.

Neither the publication of the Index by the Licensor nor the granting of a license regarding the Index as well as the Index Trademark for the utilization in connection with the financial instrument or other securities or financial products, which one derived from the Index, represents a recommendation by the Licensor for a capital investment or contains in any manner a warranty or opinion by the Licensor with respect to the attractiveness of an investment in this product.

In its capacity as sole owner of all rights to the Index and the Index Trademark the Licensor has solely licensed to the issuer of the financial instrument and its affiliates the utilization of the Index and the Index Trademark as well as any reference to the Index and the Index Trademark in connection with the financial instrument.

EURO STOXX 50® Index and EURO STOXX® Banks Index

STOXX Limited, Deutsche Börse Group and their licensors, research partners or data providers have no relationship to BNP PARIBAS, other than the licensing of the EURO STOXX 50® Index and the EURO STOXX® Banks Index and the related trademarks for use in connection with the Securities.

STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not:

– Sponsor, endorse, sell or promote the Securities.– Recommend that any person invest in the Securities or any other securities.– Have any responsibility or liability for or make any decisions about the timing, amount or pricing of Securities.– Have any responsibility or liability for the administration, management or marketing of the Securities.– Consider the needs of the Securities or the owners of the Securities in determining, composing or calculating the

EURO STOXX 50® Index and the EURO STOXX® Banks Index or have any obligation to do so.

STOXX, Deutsche Börse Group and their licensors, research partners or data providers give no warranty, and exclude any liability (whether in negligence or otherwise), in connection with the Securities or their performance.

STOXX does not assume any contractual relationship with the purchasers of the Securities or any other third parties.

Specifically,

STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not give any warranty, express or implied, and exclude any liability about:

– The results to be obtained by the Securities, the owner of the Securities or any other person in connection with the use of the EURO STOXX 50® Index and the EURO STOXX® Banks Index and the data included in the EURO STOXX 50® Index and the EURO STOXX® Banks Index;

– The accuracy, timeliness, and completeness of the EURO STOXX 50® Index and the EURO STOXX® Banks Index and its data;

– The merchantability and the fitness for a particular purpose or use of the EURO STOXX 50® Index and the EURO STOXX® Banks Index and its data;

– The performance of the Securities generally.

STOXX, Deutsche Börse Group and their licensors, research partners or data providers give no warranty and exclude any liability, for any errors, omissions or interruptions in the EURO STOXX 50® Index and the EURO STOXX® Banks Index or its data;

14 / 16

Under no circumstances will STOXX, Deutsche Börse Group or their licensors, research part ners or data providers be liable (whether in negligence or otherwise) for any lost profits or indirect, punitive, special or consequential damages or losses, arising as a result of such errors, omissions or interruptions in the EURO STOXX 50® Index and the EURO STOXX® Banks Index or its data or generally in relation to the Securities, even in circumstances where STOXX, Deutsche Börse Group or their licensors, research partners or data providers are aware that such loss or damage may occur.

The licensing Agreement between BNP PARIBAS and STOXX is solely for their benefit and not for the benefit of the owners of the Securities or any other third parties.

IBEX 35® Index

Sociedad de Bolsas, owner of the IBEX 35® Index and registered holder of the corresponding trademarks associated with it, does not sponsor, promote, or in any way evaluate the advisability of investing in this financial product and the authorisation granted to BNP PARIBAS ISSUANCE B.V. (the "Entity") for the use of IBEX 35® trademark does not imply any approval in relation with the information offered by BNP PARIBAS ISSUANCE B.V. or with the usefulness or interest in the investment in the above mentioned financial product.Sociedad de Bolsas does not warrant in any case nor for any reason whatsoever:a) The continuity of the composition of the IBEX 35® Index exactly as it is today or at any other time in the past.b) The continuity of the method for calculating the IBEX 35® Index exactly as it is calculated today or at any other time in the past.c) The continuity of the calculation, formula and publication of the IBEX 35® Index.d) The precision, integrity or freedom from errors or mistakes in the composition and calculation of the IBEX 35® Index.e) The suitability of the IBEX 35 Index for the anticipated purposes for the financial product.The parties thereto acknowledge the rules for establishing the prices of the securities included in the IBEX 35® Index and of said index in accordance with the free movement of sales and purchase orders within a neutral and transparent market and that the parties thereto undertake to respect the same and to refrain from any action not in accordance therewith.

NASDAQ 100® Index

The Product(s) is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (NASDAQ, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product(s). The Corporations make no representation or warranty, express or implied to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the Nasdaq-100 Index® to track general stock market performance. The Corporations' only relationship to BNP PARIBAS ("Licensee") is in the licensing of the Nasdaq®, Nasdaq-100®, and Nasdaq-100 Index® registered trademarks, and certain trade names of the Corporations and the use of the Nasdaq-100 Index® which is determined, composed and calculated by NASDAQ without regard to Licensee or the Product(s). NASDAQ has no obligation to take the needs of the Licensee or the owners of the Product(s) into consideration in determining, composing or calculating the Nasdaq-100 Index®. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).

The Corporations do not guarantee the accuracy and/or uninterrupted calculation of the Nasdaq-100 index® or any data included therein. The Corporations make no warranty, express or implied, as to results to be obtained by Licensee, owners of the product(s), or any other person or entity from the use of the Nasdaq-100 Index® or any data included therein. The Corporations make no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the Nasdaq-100 Index® or any data included therein. Without limiting any of the foregoing, in no event shall the Corporations have any liability for any lost profits or special, incidental, punitive, indirect, or consequential damages, even if notified of the possibility of such damages.

5. Operational Information

Relevant Clearing System(s): Euroclear France.

6. Terms and Conditions of the Public Offer

Offer Price: The price of the Certificates will vary in accordance with a number of

15 / 16

factors including, but not limited to, the price of the relevant Index.

Conditions to which the offer is subject: Not applicable.

Description of the application process: Not applicable.

Details of the minimum and/or maximum amount of application:

Minimum purchase amount per investor: One (1) Certificate.

Maximum purchase amount per investor: The number of Certificates issued in respect of each Series of Certificates.

Description of possibility to reduce subscriptions and manner for refunding excess amount paid by applicants:

Not applicable.

Details of the method and time limits for paying up and delivering Securities:

The Certificates are cleared through the clearing systems and are due to be delivered on or about the second Business Day after their purchase by the investor against payment of the purchase amount.

Manner in and date on which results of the offer are to be made public: Not applicable.

Procedure for exercise of any right of pre-emption, negotiability of subscription rights and treatment of subscription rights not exercised:

Not applicable.

Process for notification to applicants of the amount allotted and indication whether dealing may begin before notification is made:

Not applicable.

Amount of any expenses and taxes specifically charges to the subscriber or purchaser:

Not applicable.

7. Placing and Underwriting

Name(s) and address(es), to the extent known to the issuer, of the placers in the various countries where the offer takes place:

None.

Name and address of the co-ordinator(s) of the global offer and of single parts of the offer:

BNP Paribas20 Boulevard des Italiens, 75009 Paris, France.

Name and address of any paying agents and depository agents in each country (in addition to the Principal Paying Agent):

Not applicable.

Entities agreeing to underwrite the issue on a firm commitment basis, and entities agreeing to place the issue without a firm commitment or under "best efforts" arrangements:

BNP Paribas Arbitrage S.N.C.

When the underwriting agreement has been or will be reached: Not applicable.

8. EU Benchmarks Regulation

EU Benchmarks Regulation: Article 29(2)statement on benchmarks: Applicable: Amounts payable under the Securities are calculated by reference to the relevant Benchmark which is provided by the relevant

Administrator, as specified in the table below.

As at the date of these Final Terms, the relevant Administrator is not included / included, as the case may be, in the register of Administrators and Benchmarks established and maintained by the European Securities

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and Markets Authority ("ESMA") pursuant to article 36 of the Benchmarks Regulation (Regulation (EU) 2016/1011) (the "BMR"), as specified in the table below.

As far as the Issuer is aware, the transitional provisions in Article 51 of the BMR apply, such that the relevant Administrator is not currently required to obtain authorisation/registration, as specified in the table below.

Benchmark Administrator RegisterAEX® Euronext Amsterdam NV Included

EURIBOR 1M European Money Markets Institute (EMMI) IncludedCAC 40® Euronext Paris Included

DAX® STOXX Ltd. IncludedEURO STOXX 50® STOXX Ltd. Included

IBEX35® Societad de Bolsas SA IncludedNasdaq-100 ® Nasdaq Inc. Not included

USD-LIBOR 1M ICE Benchmark Administration Limited IncludedEURO STOXX® Banks STOXX Ltd. Included

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ISSUE SPECIFIC SUMMARY IN RELATION TO THIS BASE PROSPECTUS

Summaries are made up of disclosure requirements known as "Elements". These Elements are numbered in Sections A - E (A.1 - E.7). This Summary contains all the Elements required to be included in a summary for this type of Securities, Issuer and Guarantor. Because some Elements are not required to be addressed, there may be gaps in the numbering sequence of the Elements. Even though an Element may be required to be inserted in the summary because of the type of Securities, Issuer and Guarantor(s), it is possible that no relevant information can be given regarding the Element. In this case a short description of the Element should be included in the summary explaining why it is not applicable.

Section A - Introduction and warnings

Element Title

A.1 Warning that the summary should be read as an introduction and provision as to claims

● This summary should be read as an introduction to the Base Prospectus and the applicable Final Terms. In this summary, unless otherwise specified and except as used in the first paragraph of Element D.3, "Base Prospectus" means the Base Prospectus of BNPP B.V. and BNPP dated 3 July 2019 as supplemented from time to time. In the first paragraph of Element D.3, "Base Prospectus" means the Base Prospectus of BNPP B.V. and BNPP dated 3 July 2019.

● Any decision to invest in any Securities should be based on a consideration of the Base Prospectus as a whole, including any documents incorporated by reference and the applicable Final Terms.

● Where a claim relating to information contained in the Base Prospectus and the applicable Final Terms is brought before a court in a Member State of the European Economic Area, the plaintiff may, under the national legislation of the Member State where the claim is brought, be required to bear the costs of translating the Base Prospectus and the applicable Final Terms before the legal proceedings are initiated.

● Civil liability in any such Member State attaches to the Issuer or the Guarantor (if any) solely on the basis of this summary, including any translation hereof, but only if it is misleading, inaccurate or inconsistent when read together with the other parts of the Base Prospectus and the applicable Final Terms or, following the implementation of the relevant provisions of Directive 2010/73/EU in the relevant Member State, it does not provide, when read together with the other parts of the Base Prospectus and the applicable Final Terms, key information in order to aid investors when considering whether to invest in the Securities.

A.2 Consent as to use the Base Prospectus, period of validity and other conditions attached

Consent: The Securities are offered in circumstances where a prospectus is required to be published under the Prospectus Directive (a "Non-exempt Offer").Subject to the conditions set out below, the Issuer consents to the use of the Base Prospectus in connection with a Non-exempt Offer of Securities by the Managers and BNP Paribas.

Offer period: The Issuer's consent referred to above is given for Non-exempt Offers of Securities from the Issue Date until the date on which the Securities are delisted (the "Offer Period").

Conditions to consent: The conditions to the Issuer's consent are that such consent (a) is only valid during the Offer Period; and (b) only extends to the use of the Base Prospectus to make Non-exempt Offers of the relevant Tranche of Securities in France and Belgium.AN INVESTOR INTENDING TO PURCHASE OR PURCHASING ANY SECURITIES IN A NON-EXEMPT OFFER FROM AN AUTHORISED OFFEROR WILL DO SO, AND OFFERS AND SALES OF SUCH SECURITIES TO AN INVESTOR BY SUCH AUTHORISED OFFEROR WILL BE MADE, IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE OFFER IN PLACE BETWEEN SUCH AUTHORISED OFFEROR AND SUCH INVESTOR INCLUDING ARRANGEMENTS IN RELATION TO PRICE, ALLOCATIONS, EXPENSES AND SETTLEMENT. THE RELEVANT INFORMATION WILL BE PROVIDED BY THE AUTHORISED OFFEROR AT THE

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Element Title

TIME OF SUCH OFFER.

Section B - Issuer and Guarantor

Element Title

B.1 Legal and commercial name of the Issuer

BNP Paribas Issuance B.V. ("BNPP B.V." or the "Issuer").

B.2 Domicile/ legal form/ legislation/ country of incorporation

BNPP B.V. was incorporated in the Netherlands as a private company with limited liability under Dutch law having its registered office at Herengracht 595, 1017 CE Amsterdam, the Netherlands.

B.4b Trend information BNPP B.V. is dependent upon BNPP. BNPP B.V. is a wholly owned subsidiary of BNPP specifically involved in the issuance of securities such as Warrants or Certificates or other obligations which are developed, setup and sold to investors by other companies in the BNPP Group (including BNPP). The securities are hedged by acquiring hedging instruments and/or collateral from BNP Paribas and BNP Paribas entities as described in Element D.2 below. As a consequence, the Trend Information described with respect to BNPP shall also apply to BNPP B.V.

B.5 Description of the Group

BNPP B.V. is a wholly owned subsidiary of BNP Paribas. BNP Paribas is the ultimate holding company of a group of companies and manages financial operations for those subsidiary companies (together the "BNPP Group").

B.9 Profit forecast or estimate

Not applicable, as there are no profit forecasts or estimates made in respect of the Issuer in the Base Prospectus to which this Summary relates.

B.10 Audit report qualifications

Not applicable, there are no qualifications in any audit report on the historical financial information included in the Base Prospectus.

B.12 Selected historical key financial information in relation to the Issuer:

Comparative Annual Financial Data - In EUR

31/12/2018 (audited) 31/12/2017 (audited)

Revenues 439,645 431,472Net Income, Group Share 27,415 26,940Total balance sheet 56,232,644,939 50,839,146,900Shareholders' equity (Group Share) 542,654 515,239

Comparative Interim Financial Data for the six-month period ended 30 June 2019 - In EUR

30/06/2019 (unaudited)1 30/06/2018 (unaudited)1

Revenues 257,597 193,729Net Income, Group Share 17,416 12,238

30/06/2019 (unaudited)1 31/12/2018 (audited)

Total balance sheet 67,132,835,358 56,232,644,939Shareholders' equity (Group Share) 560,070 542,654

1 This financial information is subject to a limited review, as further described in the statutory auditors' report.

Statements of no significant or material adverse change

There has been no significant change in the financial or trading position of BNPP B.V. since 30 June 2019 (being the end of the last financial period for which interim financial statements have been published). There has been no material adverse change in the prospects of BNPP B.V. since 31 December 2018 (being the end of the last financial period for which audited financial statements have been published).

B.13 Events impacting the Issuer's solvency

Not applicable, to the best of the Issuer's knowledge there have not been any recent events which are to a material extent relevant to the evaluation of the Issuer's solvency since 30 June 2019.

B.14 Dependence upon BNPP B.V. is dependent upon BNPP. BNPP B.V. is a wholly owned subsidiary of

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Element Title

other group entities BNPP specifically involved in the issuance of securities such as Warrants or Certificates or other obligations which are developed, setup and sold to investors by other companies in the BNPP Group (including BNPP). The securities are hedged by acquiring hedging instruments and/or collateral from BNP Paribas and BNP Paribas entities as described in Element D.2 below.

B.15 Principal activities The principal activity of the Issuer is to issue and/or acquire financial instruments of any nature and to enter into related agreements for the account of various entities within the BNPP Group.

B.16 Controlling shareholders

BNP Paribas holds 100 per cent. of the share capital of BNPP B.V.

B.17 Solicited credit ratings

BNPP B.V.'s long term credit rating is A+ with a stable outlook (S&P Global Ratings Europe Limited) and BNPP B.V.'s short term credit rating is A-1 (S&P Global Ratings Europe Limited).

The Securities have not been rated.

A security rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency.

B.18 Description of the Guarantee

The Securities will be unconditionally and irrevocably guaranteed by BNP Paribas ("BNPP" or the "Guarantor") pursuant to a French law garantie executed by BNPP 3 July 2019 (the "Guarantee").

In the event of a bail-in of BNPP but not BNPP B.V., the obligations and/or amounts owed by BNPP under the guarantee shall be reduced to reflect any such modification or reduction applied to liabilities of by BNPP resulting from the application of a bail-in of BNPP by any relevant regulator (including in a situation where the Guarantee itself is not the subject of such bail-in).

The obligations under the Guarantee are senior preferred obligations (within the meaning of Article L.613-30-3-I-3° of the French Code monétaire et financier) and unsecured obligations of BNPP and will rank pari passu with all its other present and future senior preferred and unsecured obligations subject to such exceptions as may from time to time be mandatory under French law.

B.19 Information about the Guarantor

B.19/ B.1 Legal and commercial name of the Guarantor

BNP Paribas.

B.19/ B.2 Domicile/ legal form/ legislation/ country of incorporation

The Guarantor was incorporated in France as a société anonyme under French law and licensed as a bank having its head office at 16, boulevard des Italiens - 75009 Paris, France.

B.19/ B.4b Trend information Macroeconomic environment

Macroeconomic and market conditions affect BNPP's results. The nature of BNPP's business makes it particularly sensitive to macroeconomic and market conditions in Europe.

In 2018, global growth remained healthy at around 3.7% (according to the IMF), reflecting a stabilised growth rate in advanced economies (+2.4% after +2.3% in 2017) and in emerging economies (+4.6% after +4.7% in 2017). Since the economy was at the peak of its cycle in large developed countries, central banks continued to tighten accommodating monetary policy or planned to taper it. With inflation levels still moderate, however, central banks were able to manage this transition gradually, thereby limiting the risks of a marked downturn in economic activity. Thus, the IMF expects the global growth rate experienced over the last two years to continue in 2019 (+3.5%) despite the slight slowdown expected in advanced economies.

In this context, the following two risk categories can be identified:

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Element Title

Risks of financial instability due to the conduct of monetary policies

Two risks should be emphasised: a sharp increase in interest rates and the current very accommodating monetary policy being maintained for too long.

On the one hand, the continued tightening of monetary policy in the United States (which started in 2015) and the less-accommodating monetary policy in the euro zone (reduction in assets purchases started in January 2018, with an end in December 2018) involve risks of financial turbulence and economic slowdown more pronounced than expected. The risk of an inadequately controlled rise in long-term interest rates may in particular be emphasised, under the scenario of an unexpected increase in inflation or an unanticipated tightening of monetary policies. If this risk materialises, it could have negative consequences on the asset markets, particularly those for which risk premiums are extremely low compared to their historic average, following a decade of accommodating monetary policies (credit to non-investment grade corporates or countries, certain sectors of the equity and bond markets, etc.) as well as on certain interest rate-sensitive sectors.

On the other hand, despite the upturn since mid-2016, interest rates remain low, which may continue to encourage excessive risk-taking among some players in the financial systemmarket participants: increased lengthening maturities of financings and assets held, less stringent credit policy for granting loans, and an increase in leveraged financings. Some players of these participants (insurance companies, pension funds, asset managers, etc.) entail have an increasingly systemic dimension and in the event of market turbulence (linked for instance example to a sudden sharp rise in interest rates and/or a sharp price correction) they may decide could be brought to unwind large positions in a relatively weak market liquidity.

Systemic risks related to increased debt

Macro-economically, the impact of an interest rate increase could be significant for countries with high public and/or private debt-to-GDP. This is particularly the case for certain European countries (in particular Greece, Italy, and Portugal), which are posting public debt-to-GDP ratios often above 100% but also for emerging countries.

Between 2008 and 2018, the latter recorded a marked increase in their debt, including foreign currency debt owed to foreign creditors. The private sector was the main source of the increase in this debt, but also the public sector to a lesser extent, particularly in Africa. These countries are particularly vulnerable to the prospect of a tightening in monetary policies in the advanced economies. Capital outflows could weigh on exchange rates, increase the costs of servicing that debt, import inflation, and cause the emerging countries' central banks to tighten their credit conditions. This would bring about a reduction in forecast economic growth, possible downgrades of sovereign ratings, and an increase in risks for the banks. While the exposure of the BNP Paribas Group to emerging countries is limited, the vulnerability of these economies may generate disruptions in the global financial system that could affect the Group and potentially alter its results.

It should be noted that debt-related risk could materialise, not only in the event of a sharp rise in interest rates, but also with any negative growth shocks.

Laws and regulations applicable to financial institutions

Recent and future changes in the laws and regulations applicable to financial institutions may have a significant impact on BNPP. Measures that were recently adopted or which are (or whose application measures are) still in draft format, that have or are likely to have an impact on BNPP notably include:

– regulations governing capital: the Capital Requirements Directive IV ("CRD 4")/the Capital Requirements Regulation ("CRR"), the international standard for total-loss-absorbing capacity ("TLAC") and BNPP's designation as a financial institution that is of systemic importance by the Financial Stability Board;

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Element Title

– the structural reforms comprising the French banking law of 26 July 2013 requiring that banks create subsidiaries for or segregate "speculative" proprietary operations from their traditional retail banking activities, the "Volcker rule" in the US which restricts proprietary transactions, sponsorship and investment in private equity funds and hedge funds by US and foreign banks;

– the European Single Supervisory Mechanism and the ordinance of 6 November 2014;

– the Directive of 16 April 2014 related to deposit guarantee systems and its delegation and implementing Decrees, the Directive of 15 May 2014 establishing a Bank Recovery and Resolution framework, the Single Resolution Mechanism establishing the Single Resolution Council and the Single Resolution Fund;

– the Final Rule by the US Federal Reserve imposing tighter prudential rules on the US transactions of large foreign banks, notably the obligation to create a separate intermediary holding company in the US (capitalised and subject to regulation) to house their US subsidiaries;

– the new rules for the regulation of over-the-counter derivative activities pursuant to Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, notably margin requirements for uncleared derivative products and the derivatives of securities traded by swap dealers, major swap participants, security-based swap dealers and major security-based swap participants, and the rules of the US Securities and Exchange Commission which require the registration of banks and major swap participants active on derivatives markets and transparency and reporting on derivative transactions;

– the new Markets in Financial Instruments Directive ("MiFID II") and Markets in Financial Instruments Regulation ("MiFIR"), and European regulations governing the clearing of certain over-the-counter derivative products by centralised counterparties and the disclosure of securities financing transactions to centralised bodies.

– the General Data Protection Regulation ("GDPR") came into force on 25 May 2018. This regulation aims to move the European data confidentiality environment forward and improve personal data protection within the European Union. Businesses run the risk of severe penalties if they do not comply with the standards set by the GDPR. This Regulation applies to all banks providing services to European citizens; and

– the finalisation of Basel 3 published by the Basel committee in December 2017, introducing a revision to the measurement of credit risk, operational risk and credit valuation adjustment ("CVA") risk for the calculation of risk-weighted assets. These measures are expected to come into effect in January 2022 and will be subject to an output floor (based on standardised approaches), which will be gradually applied as of 2022 and reach its final level in 2027.

Moreover, in this tougher regulatory context, the risk of non-compliance with existing laws and regulations, in particular those relating to the protection of the interests of customers and personal data, is a significant risk for the banking industry, potentially resulting in significant losses and fines. In addition to its compliance system, which specifically covers this type of risk, the BNP Paribas Group places the interest of its customers, and more broadly that of its stakeholders, at the heart of its values. Thus, the code of conduct adopted by the BNP Paribas Group in 2016 sets out detailed values and rules of conduct in this area.

Cyber security and technology risk

BNPP's ability to do business is intrinsically tied to the fluidity of electronic transactions

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Element Title

as well as the protection and security of information and technology assets.

The technological change is accelerating with the digital transformation and the resulting increase in the number of communications circuits, proliferation in data sources, growing process automation, and greater use of electronic banking transactions.

The progress and acceleration of technological change are giving cybercriminals new options for altering, stealing, and disclosing data. The number of attacks is increasing, with a greater reach and sophistication in all sectors, including financial services.

The outsourcing of a growing number of processes also exposes the Group to structural cyber security and technology risks leading to the appearance of potential attack vectors that cybercriminals can exploit.

Accordingly, the BNP Paribas Group has a second line of defence within the Risk Function dedicated to managing technical and cyber security risks. Thus, operational standards are regularly adapted to support the Bank's digital evolution and innovation while managing existing and emerging threats (such as cyber-crime, espionage, etc.).

B.19/B.5 Description of the Group

BNPP is a European leading provider of banking and financial services and has four domestic retail banking markets in Europe, namely in France, Belgium, Italy and Luxembourg. It is present in 71 countries and has more than 201,000 employees, including over 153,000 in Europe. BNPP is the parent company of the BNP Paribas Group (together the "BNPP Group").

B.19/B.9 Profit forecast or estimate

Not applicable, as there are no profit forecasts or estimates made in respect of the Guarantor in the Base Prospectus to which this Summary relates.

B.19/ B.10 Audit report qualifications

Not applicable, there are no qualifications in any audit report on the historical financial information included in the Base Prospectus.

B.19/ B.12 Selected historical key financial information in relation to the Guarantor:

Comparative Annual Financial Data - In millions of EUR

31/12/2018*(audited)

31/12/2017(audited)

Revenues 42,516 43,161Cost of Risk (2,764) (2,907)Net income, Group share 7,526 7,759

31/12/2018 31/12/2017

Common Equity Tier 1 Ratio (Basel 3 fully loaded, CRD4)

11.80% 11.80%

31/12/2018*(audited)

31/12/2017(audited)

Total consolidated balance sheet 2,040,836 1,960,252Consolidated loans and receivables due from customers

765,871 727,675

Consolidated items due to customers 796,548 766,890Shareholders' equity (Group share) 101,467 101,983

* The figures as at 31 December 2018 included here are based on the new IFRS 9 accounting standard. The impacts of the first application of the new IFRS 9 accounting standard were limited and fully taken into account as of 1 January 2018: -1.1 billion euros impact on shareholders' equity not revaluated (2.5 billion euros impact on shareholders' equity revaluated) and ~-10 bp on the fully loaded Basel 3 common equity Tier 1 ratio.

Comparative Interim Financial Data for the six-month period ended 30 June 2019 - In millions of EUR

1H19* (unaudited) 1H18 (unaudited)Revenues 22,368 22,004

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Element Title

Cost of Risk (1,390) (1,182)Net income, Group share 4,386 3,960

30/06/2019* 31/12/2018Common Equity Tier 1 Ratio (Basel 3 fully loaded, CRD4)

11.90% 11.80%

30/06/2019* (unaudited) 31/12/2018 (audited)Total consolidated balance sheet 2,372,620 2,040,836Consolidated loans and receivables due from customers

793,960 765,871


* The figures as at 30 June 2019 are based on the new IFRS 16 accounting standard. The impact as at 1 January 2019 of the first application of the new accounting standard IFRS 16 ("Leasing") was ~-10 bp on the Basel 3 common equity Tier 1 ratio.

Comparative Interim Financial Data for the nine-month period ended 30 September 2019 - In millions of EUR

9M19* (unaudited) 9M18 (unaudited)Revenues 33,264 32,356Cost of Risk (2,237) (1,868)Net income, Group share 6,324 6,084

30/09/2019* 31/12/2018Common Equity Tier 1 Ratio (Basel 3 fully loaded, CRD4)

12% 11.80%

30/09/2019* (unaudited) 31/12/2018 (audited)Total consolidated balance sheet 2,510,204 2,040,836Consolidated loans and receivables due from customers

797,357 765,871


* The figures as at 30 September 2019 are based on the new IFRS 16 accounting standard. The impact as at 1 January 2019 of the first application of the new accounting standard IFRS 16 ("Leasing") was ~-10 bp on the Basel 3 common equity Tier 1 ratio.Statements of no significant or material adverse change

There has been no significant change in the financial or trading position of the BNPP Group since 30 June 2019 (being the end of the last financial period for which interim financial statements have been published).

There has been no material adverse change in the prospects of BNPP or the BNPP Group since 31 December 2018 (being the end of the last financial period for which audited financial statements have been published).

B.19/ B.13 Events impacting the Guarantor's solvency

Not applicable, to the best of the Guarantor's knowledge, there have not been any recent events which are to a material extent relevant to the evaluation of the Guarantor's solvency since 30 September 2019.

B.19/ B.14 Dependence upon other Group entities

BNPP is not dependent upon other members of the BNPP Group.

B.19/ B.15 Principal activities BNP Paribas holds key positions in its two main businesses:

● Retail Banking and Services, which includes:

● Domestic Markets, comprising:

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Element Title

● French Retail Banking (FRB),● BNL banca commerciale (BNL bc), Italian retail banking,● Belgian Retail Banking (BRB),● Other Domestic Markets activities, including Luxembourg Retail

Banking (LRB);● International Financial Services, comprising:

● Europe-Mediterranean,● BancWest,● Personal Finance,● Insurance,● Wealth and Asset Management;

● Corporate and Institutional Banking (CIB), which includes:

● Corporate Banking,● Global Markets,● Securities Services.

B.19/ B.16 Controlling shareholders

None of the existing shareholders controls, either directly or indirectly, BNPP. As at 31 December 2018, the main shareholders were Société Fédérale de Participations et d'Investissement ("SFPI") a public-interest société anonyme (public limited company) acting on behalf of the Belgian government holding 7.7% of the share capital, BlackRock Inc. holding 5.1% of the share capital and Grand Duchy of Luxembourg holding 1.0% of the share capital. To BNPP's knowledge, no shareholder other than SFPI and BlackRock Inc. owns more than 5% of its capital or voting rights.

B.19/ B.17 Solicited credit ratings

BNPP's long term credit ratings are A+ with a stable outlook (S&P Global Ratings Europe Limited), Aa3 with a stable outlook (Moody's Investors Service Ltd.) and AA- with a stable outlook (Fitch France S.A.S.) and AA (low) with a stable outlook (DBRS Limited) and BNPP's short-term credit ratings are A-1 (S&P Global Ratings Europe Limited), P-1 (Moody's Investors Service Ltd.), F1+ (Fitch France S.A.S.) and R-1 (middle) (DBRS Limited).

A security rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency.

Section C - Securities

Element Title

C.1 Type and class of Securities/ISIN

The Securities are certificates ("Certificates") and are issued in Series.

The Series Number of the Securities is as set out in the table in Element C.20 below.

The ISIN is as set out in the table in Element C.20 below.

The Mnemonic Code is as set out in the table in Element C.20 below.

The Certificates are governed by French law.

The Securities are cash settled Securities.C.2 Currency The currency of this Series of Securities is Euro ("EUR").C.5 Restrictions on free

transferabilityThe Securities will be freely transferable, subject to the offering and selling restrictions in the United States, the European Economic Area, Belgium, Denmark, Finland, France, Luxembourg, the Netherlands, Norway, Spain and Sweden and under the Prospectus Directive and the laws of any jurisdiction in which the relevant Securities are offered or sold.

C.8 Rights attaching to the Securities

Securities issued under the Programme will have terms and conditions relating to, among other matters:

9 / 22

Element Title

Status

The Securities are unsubordinated and unsecured obligations of the Issuer and rank pari passu among themselves.Taxation

The Holder must pay all taxes, duties and/or expenses arising from the disposal, exercise and settlement or redemption of the Securities and/or the delivery or transfer of the Entitlement. The Issuer shall deduct from amounts payable or assets deliverable to Holders certain taxes and expenses not previously deducted from amounts paid or assets delivered to Holders, as the Calculation Agent determines are attributable to the Securities.

Payments will be subject in all cases to (i) any fiscal or other laws and regulations applicable thereto in the place of payment, (ii) any withholding or deduction required pursuant to an agreement described in Section 1471(b) of the U.S. Internal Revenue Code of 1986 (the "Code") or otherwise imposed pursuant to Sections 1471 through 1474 of the Code, any regulations or agreements thereunder, any official interpretations thereof, or any law implementing an intergovernmental approach thereto, and (iii) any withholding or deduction required pursuant to Section 871(m) of the Code.Negative pledge

The terms of the Securities will not contain a negative pledge provision.Events of Default

The terms of the Securities will not contain events of default.Meetings

The Holders shall not be grouped in a Masse.

Governing law

The Securities, the Agency Agreement (as amended or supplemented from time to time) and the Guarantee are governed by, and construed in accordance with, French law, and any action or proceeding in relation thereto shall, subject to any mandatory rules of the Brussels Recast Regulation, be submitted to the jurisdiction of the competent courts in Paris within the jurisdiction of the Paris Court of Appeal (Cour d'Appel de Paris). BNPP B.V. elects domicile at the registered office of BNP Paribas currently located at 16 boulevard des Italiens, 75009 Paris.

C.9 Interest/Redemption Interest

The Securities do not bear or pay interest.

Redemption

Unless previously redeemed or cancelled, each Security will be redeemed on the Redemption Date as set out in the table in Element C.18 below.

The Certificates may be redeemed early at the option of the Holders at the Optional Redemption Amount equal to:

Put Payout 2210

(i) if the Securities are specified as being Call Securities:

; or(ii) if the Securities are specified as being Put Securities:

10 / 22

Element Title

.Description of the Put Payout 2210

If the Holder has exercised its Holder Put Option provided that no Automatic Early Redemption Event has occurred and the Issuer has not already designated the Valuation Date, the Payout will be equal to (i) in the case of Call Securities, the excess (if any) of the Final Price on the Valuation Date over the Capitalised Exercise Price, or (ii), in the case of Put Securities, the excess (if any) of the Capitalised Exercise Price over the Final Price on the Valuation Date, in each case divided by the product of the Conversion Rate Final and Parity.

Representative of Holders

No representative of the Holders has been appointed by the Issuer.

The Holders shall not be grouped in a Masse.

Please also refer to Element C.8 above for rights attaching to the Securities.C.10 Derivative

component in the interest payment

Not applicable.

C.11 Admission to Trading

Application has been made by the Issuer (or on its behalf) for the Securities to be admitted to trading on Euronext Paris.

C.15 How the value of the investment in the derivative securities is affected by the value of the underlying assets

The amount payable on redemption is calculated by reference to the Underlying Reference(s). See Element C.18 below.

Fluctuations in the exchange rate of a relevant currency may also affect the value of the Securities.

C.16 Maturity of the derivative Securities

The Redemption Date of the Securities is as set out in the table in Element C.20 below.

C.17 Settlement Procedure

This Series of Securities is cash settled.

The Issuer does not have the option to vary settlement.C.18 Return on derivative

securitiesSee Element C.8 above for the rights attaching to the Securities.

Final Redemption

Unless previously redeemed or purchased and cancelled, each Security entitles its holder to receive from the Issuer on the Redemption Date a Cash Settlement Amount equal to:

Final Payouts

Exchange Traded Securities (ETS) Final Payouts

Leverage Products:

Leverage: open end products which have a return linked to the performance of the Underlying Reference. The calculation of the return is based on various mechanisms (including knock-out features). There is no capital protection.

ETS Final Payout 2210

(i) if the Securities are specified as being Call Securities:

; or

11 / 22

Element Title

(ii) if the Securities are specified as being Put Securities:

.Description of the Payout

If no Automatic Early Redemption Event has occurred and no Holder Put Option has being exercised provided that the Issuer has not already designated the Valuation Date, the Payout will be equal to (i) in the case of Call Securities, the excess (if any) of the Final Price on the Valuation Date over the Capitalised Exercise Price, or (ii) in the case of Put Securities, the excess (if any) of the Capitalised Exercise Price over the Final Price on the Valuation Date, in each case divided by the product of the Conversion Rate Final and Parity.Automatic Early Redemption

If on any Automatic Early Redemption Valuation Date an Automatic Early Redemption Event occurs, the Securities will be redeemed early at the Automatic Early Redemption Amount (if any) on the Automatic Early Redemption Date.

The Automatic Early Redemption Amount will be an amount equal to:

Automatic Early Redemption Payout 2210/2:

0 (zero).

"Automatic Early Redemption Event" means:

- in respect to a Call Security, the Observation Price is less than or equal to the applicable Security Threshold; or

- in respect to a Put Security, the Observation Price is greater than or equal to the applicable Security Threshold.

Description of the Automatic Early Redemption Payout 2210/2

In the case of (i) a Call Securities, if an Automatic Early Redemption Event has occurred, then the Payout will equal zero (0) and there will be no payment on redemption or exercise of the Securities.

In the case of (ii) a Put Securities, if an Automatic Early Redemption Event has occurred, then the Payout will equal zero (0) and there will be no payment on redemption or exercise of the Securities.

C.19 Final reference price of the Underlying

The final reference price of the underlying will be determined in accordance with the valuation mechanics set out in Element C.18 above.

C.20 Underlying Reference

The Underlying Reference is as set out in the table below. Information on the Underlying Reference can be obtained from the source as set out in the table below.

12 / 22


No. of Securiti

es issued

No. of Securiti

es

Mnemonic Code




Price Rounding

Rule


Rule

Security Percentag

e

Dividend Percentag

e


Financing Rate

Percentage


Futures or Options

Exchange

Redemption Date

Parity

FRBNPP01FUD0





10

FRBNPP01FUE8





10

FRBNPP01FUF5





10

FRBNPP01FUG3

150,000 150,000 017KBEUR 0.39 Put EUR 5,240.3803

Downwards 4 digits




Open End100

FRBNPP01FUH1

150,000 150,000 018KBEUR 0.52 Put EUR 5,253.3837

Downwards 4 digits




Open End100

FRBNPP01FUI9

150,000 150,000 019KBEUR 0.65 Put EUR 5,266.3872

Downwards 4 digits




Open End100

FRBNPP01FUJ7

150,000 150,000 020KBEUR 0.78 Put EUR 5,279.3906

Downwards 4 digits




Open End100

FRBNPP01FUK5

150,000 150,000 021KBEUR 0.91 Put EUR 5,292.3940

Downwards 4 digits




Open End100

FRBNPP01FUL3

150,000 150,000 022KBEUR 1.04 Put EUR 5,305.3974

Downwards 4 digits




Open End100

FRBNPP01FUM1

150,000 150,000 023KBEUR 1.17 Put EUR 5,318.4009

Downwards 4 digits




Open End100

FRBNPP01FUN9

150,000 150,000 024KBEUR 1.30 Put EUR 5,331.4043

Downwards 4 digits




Open End100

FRBNPP01FUO7

150,000 150,000 025KBEUR 1.43 Put EUR 5,344.4077

Downwards 4 digits




Open End100

FRBNPP01FUP4

150,000 150,000 026KBEUR 1.56 Put EUR 5,357.4111

Downwards 4 digits




Open End100

13 / 22


No. of Securiti

es issued

No. of Securiti

es

Mnemonic Code




Price Rounding

Rule


Rule

Security Percentag

e

Dividend Percentag

e


Financing Rate

Percentage


Futures or Options

Exchange

Redemption Date

Parity

FRBNPP01FUQ2

150,000 150,000 027KBEUR 1.69 Put EUR 5,370.4146

Downwards 4 digits




Open End100

FRBNPP01FUR0

150,000 150,000 028KBEUR 1.82 Put EUR 5,383.4180

Downwards 4 digits




Open End100

FRBNPP01FUS8

150,000 150,000 029KBEUR 1.95 Put EUR 5,396.4214

Downwards 4 digits




Open End100

FRBNPP01FUT6

150,000 150,000 030KBEUR 2.08 Put EUR 5,409.4248

Downwards 4 digits




Open End100

FRBNPP01FUU4

150,000 150,000 031KBEUR 2.21 Put EUR 5,422.4283

Downwards 4 digits




Open End100

FRBNPP01FUV2

150,000 150,000 032KBEUR 2.34 Put EUR 5,435.4317

Downwards 4 digits




Open End100

FRBNPP01FUW0

150,000 150,000 033KBEUR 2.47 Put EUR 5,448.4351

Downwards 4 digits




Open End100

FRBNPP01FUX8

100,000 100,000 034KB EUR 23.25 Call

EUR 9,301.7200

Upwards 4 digits



100

FRBNPP01FUY6

100,000 100,000 035KB EUR 10.46 Call

EUR 10,580.7065

Upwards 4 digits



100

FRBNPP01FUZ3

100,000 100,000 036KBEUR 1.16 Put

EUR 11,743.4215

Downwards 4 digits



100

FRBNPP01FV09

100,000 100,000 037KBEUR 2.33 Put

EUR 11,859.6930

Downwards 4 digits



100

FRBNPP01FV17

100,000 100,000 038KBEUR 3.49 Put

EUR 11,975.9645

Downwards 4 digits



100

FRBNPP01FV25

75,000 75,000 039KB EUR 0.33 Call EUR 3,237.3297Upwards 4 digits

Upwards 4 digits 0% 85%


100

14 / 22


No. of Securiti

es issued

No. of Securiti

es

Mnemonic Code




Price Rounding

Rule


Rule

Security Percentag

e

Dividend Percentag

e


Financing Rate

Percentage


Futures or Options

Exchange

Redemption Date

Parity

FRBNPP01FV33




100

FRBNPP01FV41




100

FRBNPP01FV58




100

FRBNPP01FV66

100,000 100,000 043KB

EUR 0.84 Put EUR 9,289.7201Downwards 4 digits



Mercado Oficial de Futuros y Opciones Financieros (MEFF)

Open End

1,000

FRBNPP01FV74

100,000 100,000 044KB



USD1MFSR= -3.50% -


Open End

100

FRBNPP01FV82

100,000 100,000 045KB



USD1MFSR= -3.50% -


Open End

100

FRBNPP01FV90




10




Screen Page


FRBNPP01FUD0 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam

www.euronext.com 1

FRBNPP01FUE8 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam

www.euronext.com 1

FRBNPP01FUF5 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam

www.euronext.com 1

FRBNPP01FUG3 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUH1 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

FRBNPP01FUI9 CAC 40® EUR FR0003500008 .FCHI Euronext N.V. www.euronext.com Euronext Paris www.euronext.com 1

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FRBNPP01FUJ7 CAC 40® EUR FR0003500008 .FCHI Euronext

1 / 16 · 2020. 6. 3. · 1 / 16 final terms dated 9 march 2020 bnp paribas issuance b.v....

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